Business

November 04, 2017

Tata Capital's travel firm acquired by Thomas Cook India


Thomas Cook India

The completion of the acquisition of the wholly-owned subsidiaries of Tata Capital Limited, Tata Capital Forex Limited (foreign exchange) and TC Travel and Services Limited (travel services) was announced by Thomas Cook India Group. The two acquired entities have a network of 24 locations and 263 employees pan India.

In a statement, Thomas Cook said that the acquired companies will henceforth be referred to as TC Forex Services Ltd. and TC Travel and Services Ltd.

“Our acquisition of Tata Capital’s Forex and travel companies serves to further reiterate our focus on the travel and foreign exchange sector in the country,” Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) said.

He added: “The acquisition creates clear opportunities, including a significant increase in scale and network reach, volume/ buying advantages as well as technology gains, all resulting in stronger customer service and stakeholder value.”

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